AllCity, Inc., is financed 38% with debt, 9% with preferred stock, and 53% with common stock. Its pretax cost of debt is 6.5%, its preferred stock pays an annual dividend of $2.51 and is priced at $25. It has an equity beta of 1.19. Assume the risk-free rate is 1.7%, the market risk premium is 6.8% and AllCity's tax rate is 25%. What is its after-tax WACC? Note: Assume that the firm will always be able to utilize its full interest tax shield. The WACC is \%. (Round to two decimal places.)